Cousins Buys NorthPark Town Center

Northpark Town Center

The Central Perimeter continues to be one of Atlanta’s most active submarkets; there is a staggering amount of development and redevelopment activity happening here, including the State Farm campus and mixed-use project, the Sandy Springs City Center redevelopment, the Palisades redevelopment, and Ackerman’s new Abernathy 400 project. Cousins Properties, who has done a lot over the past several years to refocus their portfolio, wants to get in on the Central Perimeter action and has placed NorthPark Town Center on contract. AEW Capital Management and the Bank of Ireland, are expected to sell Cousins the asset for a reported $348 million.

Cousins has also been active in the Downtown submarket, where it is looking for a JV partner on 191 Peachtree, the 50-story office tower on Peachtree St. Cousins has already increased the occupancy of the building by 20% since it was purchased 8 years ago. Cousins plans on retaining ownership and leasing/management responsibilities in 191 once they’ve found a partner for their JV.

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